1099 / 1042-S

Clean Data is Key for Smooth 1099 Reporting

In this question-and-answer article, IOFM asks Christine Battles, APS, APM, APPM, Sr. Accounts Payable Manager at UniFirst, how she ensures smooth processing for 1099 reporting.

Christine is an IOFM

IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Handling 1042 Forms for Foreign Vendors: Key Considerations for Tax Treaty Benefits

Q. We have a 1042 Vendor that a citizenship of one foreign country and permant address is in… Read More

Reporting Workers' Compensation Claim Payments: Are They 1099-MISC Reportable?

Q. We pay another company to handle our workers comp claims. We pay a fee per claim, along with the… Read More

Are Poundage Fees Paid to a City Marshal Reportable on Form 1099-NEC?

Q. Are poundage fees that are a percentage of a settlement that are paid to the City Marshall… Read More

Reporting Payments in Multiple Currencies for 1099 Filing

Q. We have a question with a vendor that has to address locations one in United States and another… Read More

Do Newly Identified 1099 Suppliers Require Electronic Filing?

Q. I understand that 1099 Misc and Nec need any corrections to be filed electronically if the… Read More

Man sitting at his desk with his laptop open and notes to his side

On-demand Webinar: Backup Withholding, The Forgotten Piece of the 1099 World

This training is all about backup withholding – the forgotten piece of the 1099 world. Backup withholding is income tax withholding on payments to contractors (or other 1099’able

1099 Reporting for Payments to Recycling Vendors:

Q. We have a vendor that charges us to dump our concrete and asphalt at their location and they… Read More

Reporting Dividends Between Domestic and Foreign Entities: 1099-DIV vs. 1042-S Guidance

Q. In 2024 we paid dividends to two of our other company entities. The first amount was paid… Read More

Unlock Straight-Through Processing: Discover How to Make It Work for You

Processing invoices manually is exhausting and inefficient. Yet traditional approaches to automating invoice processing often fall short of expectations, leaving AP teams frustrated. How can you